With so much on their plate, board members and C-suite leaders need to look at new ways of setting and delivering on expectations to maintain their edge.
While technology has no-doubt added to this mounting pressure, it’s also a key enabler in helping to address it. Bringing AI and analytics to the boardroom will help leaders address these challenges and create lasting impact across the whole enterprise, proving intelligent technologies are no longer a business advantage—they could be an operational imperative.
Bring intelligence into the boardroom
AI-derived boardroom insights can take many different forms and include:
Perhaps the most prevalent form is the intelligent advisor. While board members have a team of advisors and receive a lot of input from different business leaders, an AI-powered advisor offers additional, analytically-based insights to complement their own judgment and support to validate their thinking on strategic decisions.
Despite the potential, awareness of intelligent advisors to assist the C-suite is not high yet. But some sectors are clearly leading the way.
For example, Procter and Gamble set up its own AI-powered digital cockpit to give business-wide oversight of its data. Now during quarterly reviews, the CEO—along with the CIO, chief analytics officer and other senior leaders—sits in that cockpit to understand the business, with the ultimate aim of deriving data-driven insights to inform business decisions at the topmost level.
Supply chain insights
In another case, Airbus developed an open data platform to help monitor business operations. By integrating their data with that of other airline companies, they should be able to see manufacturing progress and performance overviews.
This platform also helps the company to provide insights back to their customers, manufacturing units and suppliers, creating visibility of their supply chain. As a result, they have improved overall airline uptime and flight experience, while enhancing their entire manufacturing process by informing suppliers and parts manufacturers about the inventories they need to hold in advance of any predicted maintenance.
Looking to the next five years, two areas within the field of AI will see significant development: natural language processing (NLP) and machine vision. By combining voice and vision capabilities with existing advances in analytics and AI, the sophistication of applied intelligence services, and the decision-making capabilities it enables, are going to significantly improve. In turn, this will create new, unparalleled possibilities for the C-suite.